Loving this New State

[1manshow]

Wow...anyone else writing auto/home in kentucky?

Average premium is almost double what we're used to here in Pa. Approx 500K RC on a claim free homeowners policy yesterday = $3900/year premium. Here in Pa that would have been a thousand bucks in premium.

Not really sure why these premiums are so high

 

[MrGolf]

Wow...anyone else writing auto/home in kentucky?

Average premium is almost double what we're used to here in Pa. Approx 500K RC on a claim free homeowners policy yesterday = $3900/year premium. Here in Pa that would have been a thousand bucks in premium.

Not really sure why these premiums are so high

Give it a couple Kentucky weather seasons and you'll see.

In all seriousness, I don't understand it but there are just tons of claims from storms in the central Kentucky region. And it seems like when they hit, they really hit... Probably why we started focusing on commercial back in the late 80's and early 90's.

 

[insurance1822]

Give it a couple Kentucky weather seasons and you'll see.

In all seriousness, I don't understand it but there are just tons of claims from storms in the central Kentucky region. And it seems like when they hit, they really hit... Probably why we started focusing on commercial back in the late 80's and early 90's.

Late 80's early 90's? Holy crap you're old! From here on out I'll be referring to you as Mr. MrGolf

 

[MrGolf]

Late 80's early 90's? Holy crap you're old! From here on out I'll be referring to you as Mr. MrGolf

Great-grandfather started the agency in 1933.

 

[1manshow]

Guess we'll see how it seasons out for us. Strangely, we're writing mostly clients who are claim free for the past 5 years. Maybe we should expect a bad storm year soon ?

Commercial is on our radar as soon as our main player gets in the game.

Running into many old timer agencies who've been sitting in the rocker sipping tea rather than doing their homework

 

[nyc2phi]

Was $3900 competitive? What was the rate you beat?

Would love to open an office in a new market but can't imagine living in Kentucky. No offense.

 

[MrGolf]

Guess we'll see how it seasons out for us. Strangely, we're writing mostly clients who are claim free for the past 5 years. Maybe we should expect a bad storm year soon ?

Commercial is on our radar as soon as our main player gets in the game.

Running into many old timer agencies who've been sitting in the rocker sipping tea rather than doing their homework

You'll also run into (depending what niche you're after) some of the largest privately owned agencies in the southeast and the country.

 

[1manshow]

3900 was competitive...our auto rates cant be beat

We are the only representation for two solid carriers in a city of 35K so we're expecting to raise a little heck with the competition.

Not sure what "largest privately owned agencies" significance is...other than "a great source of leads" but we'll cross that bridge when we come to it. One guarantee that I have is that not one of those large agencies represent Erie Insurance Group. That will be my ace in the hole.

----------

Oh and I'm not living in KY. I sent a staff member down. She will become a partner in this office as well.

As far as Kentucky goes, I absolutely love the people.

Unless our next new start up is Georgia, I will plan to get a cottage down there

 

[nyc2phi]

3900 was competitive...our auto rates cant be beat We are the only representation for two solid carriers in a city of 35K so we're expecting to raise a little heck with the competition. Not sure what "largest privately owned agencies" significance is...other than "a great source of leads" but we'll cross that bridge when we come to it. One guarantee that I have is that not one of those large agencies represent Erie Insurance Group. That will be my ace in the hole. ---------- Oh and I'm not living in KY. I sent a staff member down. She will become a partner in this office as well. As far as Kentucky goes, I absolutely love the people. Unless our next new start up is Georgia, I will plan to get a cottage down there

Georgia would be sweet I also heard potentially South Carolina but we're talk probably a good 5 years away.

 

[Italianik]

I am so jelly!
I am not sure what Erie is doing here in downstate NY, but IMHO the rates indicate they really don't want to write the business they think they want to write. I continue to scratch my head on their new home rates- they are 1.5 to 2X other carriers often times. I am hitting on like 1 out of 4 home quotes to bind.

Expect substandard auto, then they are too cheap. They call me all day!
Bang- bang- bang.